By now, the term luxury downturn is enough to turn any Swiss watchmaker's stomach before the day’s first espresso and flaky pastry.
Across the industry, CEOs are being shuffled out of corner offices, brands are tightening wholesale allocations, and authorised dealers who once ran waitlists like velvet-roped nightclubs are suddenly chasing clients again.Prices on the grey market have softened, yet collectors are circling like sharks in the shallows, waiting to snap up deals. Nowhere is thi